8 March 2018 - Deborah Wilkes
Stada Arzneimittel plans to "tap new markets" as part of a drive to "modernise" the German generics and OTC company.
Chief executive officer Claudio Albrecht said the Middle East and North Africa (MENA) region would play a key role in Stada's future activities. "There are more than half a billion people living in North Africa and the Middle East," he pointed out, but Stada had "barely" reached these people.
Stada would also continue to expand its activities in Asia, said Albrecht, and would "focus on filling in gaps" in its home territory of Europe.
Albrecht also highlighted that Stada intended to pursue a "three-pillar strategy" involving OTC products, generics, and specialty pharmaceuticals including biosimilars.
Acquisitions on the agenda
"We are pursuing the goal of a strong presence for all three pillars of our business model in as many countries as possible through the greater internationalisation of our existing product portfolio and acquisitions," commented Albrecht, noting that Germany was the only market where Stada was already performing strongly in all three pillars.
He noted that growth in the US, Japan and Australia was mainly expected in the specialty pharmaceuticals segment.
Albrecht said Stada would continue with its existing strategy of internationalising successful branded products, and would continue to offer a full portfolio in the generics segment.
Commenting on biosimilars, he said Stada would focus on the therapeutic areas of central nervous system (CNS), diabetes, oncology and ophthalmology.
He said Stada's research and development expenditure would be increased significantly, rising from an average of 6% of sales in 2016/2017 to 8% of sales in 2018 through 2020.
Albrecht became chief executive officer of Stada in September 2017 when the company was acquired by private-equity firms Bain Capital and Cinven. The company said at the time that Albrecht would serve as interim head until a permanent chief executive officer was appointed.
Peter Goldschmidt to join as chief executive officer
Stada recently appointed Peter Goldschmidt – a senior executive at Novartis' Sandoz division – as its new permanent chief executive officer. He will take up the post on 1 September 2018.
Reporting its financial results for 2017, Stada said sales were up by 6% to EUR2.26 billion (USD2.86 billion) adjusted for the impact of portfolio and currency changes. As reported, sales grew by 8% to EUR2.31 billion.
The Branded Products business recorded sales up by 11% as reported to EUR952 million.